South Korea’s Food Exports Rose to $6.2 Billion in 6 Months

A worker at a supermarket in South Korea puts bags of instant noodles on the shelves (Yonhap news agency)

South Korea's exports of food and related goods rose 5.2% on-year in the first half of 2024, government data showed, led by the popularity of instant noodles and processed rice products.
The Ministry of Agriculture, Food and Rural Affairs said that outbound shipments of the food segment known as “K-Food Plus” reached $6.21 billion, compared with $5.9 billion posted a year earlier, the country’s Yonhap new agency reported on Saturday.
K-Food Plus encompasses a diverse range of food products and related items, from fresh and processed goods to agricultural equipment and solutions.
By product, exports of instant noodles jumped 32.3% to hit $590.2 million, with those of processed rice products gaining 41.4 percent to $136.9 million, the data showed.
The ministry attributed the growth in instant noodle exports to the popularity of social media content featuring spicy product challenges, as well as the release of customized products by exporters.
South Korean rice products also gained popularity, as frozen gimbap, or seaweed rice rolls, attracted significant attention in the US market as a gluten-free and healthy eating option, the ministry said.
By destination, exports to the US surged 17%, reaching $736 million, driven by increased demand due to revitalized consumer spending, a stabilizing labor market and eased inflation.
Exports to China also edged up 3.1% to $702 million, as exporters utilized online platforms and influencers to promote South Korean foodstuffs.
Shipments to Japan, on the other hand, declined by 7% during the period to $671.3 million, due to the reduced spending power of Japanese consumers, the ministry added.